Personal Mobility Solutions Limited - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Personal Mobility Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W Kiely

SECRETARY:

R Calcott

REGISTERED OFFICE:

Cedarmount House

90A Owlsmoor Road

Sandhurst

Berkshire

GU47 0SS

REGISTERED NUMBER:

04462551 (England and Wales)

ACCOUNTANTS:

Peter Upton

Bridge House

2 Bridge Avenue

Maidenhead

Berkshire

SL6 1RR

FIXED ASSETS

Intangible assets

4

-

12,214

Tangible assets

5

556,081

590,459

556,081

602,673

CURRENT ASSETS

Stocks

6

139,760

500

Debtors

7

287,214

268,473

Cash at bank and in hand

935,032

1,052,430

1,362,006

1,321,403

CREDITORS

Amounts falling due within one year

8

397,546

420,623

NET CURRENT ASSETS

964,460

900,780

TOTAL ASSETS LESS CURRENT LIABILITIES

1,520,541

1,503,453

PROVISIONS FOR LIABILITIES

9

-

1,537

NET ASSETS

1,520,541

1,501,916

CAPITAL AND RESERVES

Called up share capital

10

625

625

Revaluation reserve

11

225,001

236,074

Retained earnings

11

1,294,915

1,265,217

SHAREHOLDERS' FUNDS

1,520,541

1,501,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 March 2020 and were signed by:

W Kiely - Director

1.	STATUTORY INFORMATION

Personal Mobility Solutions Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

The balance of Goodwill is being amortised on a straight line basis over a period of 5 years.

Other intangible assets

The balance of the value of the brand name is being amortised on a straight line basis over a period of 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 25% on cost

Stocks

Stocks comprise vehicles and spare parts. Stocks of vehicles are valued at cost.

The value of parts stock is estimated by the directors.

Financial instruments

Basic financial instruments are recognised at settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

115,859

24,548

140,407

AMORTISATION

At 1 October 2018

106,592

21,601

128,193

Charge for year

9,267

2,947

12,214

At 30 September 2019

115,859

24,548

140,407

NET BOOK VALUE

At 30 September 2019

-

-

-

At 30 September 2018

9,267

2,947

12,214

5.	TANGIBLE FIXED ASSETS

Fixtures

Office &

and

Motor

sundry

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 October 2018

7,605

1,022,917

61,179

1,091,701

Additions

160

248,922

2,270

251,352

Disposals

-

(266,093

)

-

(266,093

)

Revaluations

-

53,635

-

53,635

At 30 September 2019

7,765

1,059,381

63,449

1,130,595

DEPRECIATION

At 1 October 2018

6,141

443,264

51,837

501,242

Charge for year

406

228,688

2,903

231,997

Eliminated on disposal

-

(158,725

)

-

(158,725

)

At 30 September 2019

6,547

513,227

54,740

574,514

NET BOOK VALUE

At 30 September 2019

1,218

546,154

8,709

556,081

At 30 September 2018

1,464

579,653

9,342

590,459

Cost or valuation at 30 September 2019 is represented by:

Fixtures

Office &

and

Motor

sundry

fittings

vehicles

equipment

Totals

£

£

£

£

Valuation in 2012

2,761

287,112

38,696

328,569

Valuation in 2013

1,180

139,578

3,170

143,928

Valuation in 2014

698

(42,274

)

10,328

(31,248

)

Valuation in 2015

2,666

233,167

3,614

239,447

Valuation in 2016

-

160,014

-

160,014

Valuation in 2017

-

43,933

2,166

46,099

Valuation in 2018

300

201,387

3,205

204,892

Valuation in 2019

160

36,464

2,270

38,894

7,765

1,059,381

63,449

1,130,595

6.

STOCKS

30.9.19

30.9.18

£

£

Stocks

139,760

500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

115,834

104,257

Other debtors

119,773

121,453

VAT

15,689

25,865

Deferred tax asset

20,378

-

Prepayments

15,540

16,898

287,214

268,473

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade creditors

18,842

-

Customer deposits

267,320

257,806

Tax

37,388

62,834

Social security and other taxes

8,482

8,272

Other creditors

85

110

Pension control

-

439

Accruals and deferred income

65,429

91,162

397,546

420,623

9.	PROVISIONS FOR LIABILITIES

30.9.18

£

Deferred tax

1,537

Deferred

tax

£

Balance at 1 October 2018

1,537

Deferred tax

(21,915

)

Balance at 30 September 2019

(20,378

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.9.18

value:

£

£

625

Ordinary

£1

625

625

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 October 2018

1,265,217

236,074

1,501,291

Profit for the year

79,698

79,698

Dividends

(50,000

)

(50,000

)

Fixed asset revaluation

-

(11,073

)

(11,073

)

At 30 September 2019

1,294,915

225,001

1,519,916

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W Kiely.